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CAR FINANCE TYPE GUIDE

Operating Lease:

Provides for the renting of the vehicle and includes financing of the vehicle over a fixed term.

At the end of the lease term you return the vehicle to the finance company. Generally, you have the option to buy the vehicle at market value.

This type of finance facility is popular for companies operating a fleet of vehicles.

Benefits:

  • You can access the latest vehicles without the risk associated with ownership
  • The full lease payment is tax deductible where the overall use of the vehicle is for income producing purposes
  • As the responsibility for maintenance falls with the financial institution you are not exposed to unexpected high maintenance costs
  • Fixed payments and interest rates provides certainty

Considerations:

  • There is no pre-agreed purchase price for the motor vehicle (note this could be advantageous if the value of the vehicle has fallen significantly)
  • You cannot claim the vehicle depreciation


Disclaimer: The above is a generic representation only. It does not constitute financial advice or mortgage structuring advice. It is only to be used as a guide only. Please discuss your financial needs with a financial planner, accountant or your banking representative.

No reliance should be placed on the above information.

CAR FINANCING OPTIONS

HIRE PURCHASE
FINANCE LEASE
OPERATING LEASE
NOVATED LEASE
CAR/CHATTEL LOAN
LINE OF CREDIT
BUSINESS FINANCING OPTIONS

OPERATING LEASE
FINANCE LEASE
COMMERCIAL HIRE PURCHASE
REVOLVING CREDIT FACILITY
CHATTEL MORTGAGE
SALE & LEASEBACK
LEASE VS BUY
DO I QUALIFY FOR A LEASE?
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